Tag Archives: The CARES Act

New Rules and Ways to Use HSAs/FSAs

NewsBy Admin June 21, 2021

People who own a high-deductible health insurance plan may have the ability to open a health savings account (HSA). They can contribute pre-tax income to an HSA and invest the money for tax-free growth in a variety of mutual funds, stocks and exchange-traded funds (ETFs). The funds may be withdrawn tax-free when used to pay…

IRS Questions and Answers on COVID-19 IRA and 401(k) Loans & Distributions

NewsBy Admin June 18, 2020

The CARES Act stimulus package substantially relaxed the rules around certain retirement account loan and distribution requirements, but with much confusion. As a result, the IRS recently put out a FAQ document to address the COVID-19 rule relaxation around IRA and 401(k) loans and distributions. This important information should come as welcome news for the…